PenCom warns retirees against fraudulent pension group

The National Pension Commission (PenCom) says the activities of a group named Association of Pension Desk Practitioners of Nigeria (ASSOPEP) which claim to assist with pension and retirement benefits are fraudulent and illegal. Warning the public against doing business with the association, PenCom asked Nigerians to take cautious steps in seeking guidance on retirement benefits. […]

The National Pension Commission (PenCom) says the activities of a group named Association of Pension Desk Practitioners of Nigeria (ASSOPEP) which claim to assist with pension and retirement benefits are fraudulent and illegal.

Warning the public against doing business with the association, PenCom asked Nigerians to take cautious steps in seeking guidance on retirement benefits.

PenCom also denied the association’s claims of affiliation with the pension industry.

“The general public is kindly requested to note that the claims by ASSOPEP are entirely false as the association has no affiliation with the pension industry or authorisation of any kind whatsoever from PenCom,” the statement reads.

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“Moreover, licensed pension fund operators (LPFOs), who are statutorily mandated to undertake the processing and payment of retirement benefits, are not associated with ASSOPEP in any way.

PenCom, therefore, urges the public to be cautious of any promise or claim made by ASSOPEP regarding pension and retirement benefits or any other matter relating to the pension industry in Nigeria.

“The commission strongly advises workers, retirees, pension desk officers, and everyone approached by the association with claims of consulting with their pension fund administrators (PFAs) and PenCom for guidance and assistance in respect of their retirement benefits to exercise caution as any interaction with the association is at the individual’s risk,” PenCom said.